Since the fall of the Berlin Wall, the economies of Central and Eastern European countries and Former Soviet Republics have developed in different ways, with some considerably outperforming others. This book explores the reasons behind this: the models of capitalism that each country aimed at, the role of institutions and of institutional change in development, and the main determinants of economic and human development. Moreover, it also examines the relationship between democracy and development, and questions whether democracy is a prerequisite.
The book also considers the relevance of social capital in transition economies to test the relationship between social capital and development. A comparative analysis of state policies is conducted in order to assess which policies have helped societies in transition to boost democracy, reinforce the middle class, reduce the influence of oligarchs and fill an initial systemic vacuum. This book will be essential reading for scholars and researchers working in the field of transition and development economics, as well as those with an interest in the rise of the 'New Europe'.

Contents

PART I: TRANSFORMATION, DECLINE AND UNSTABLE GROWTH
Transition to Market: a Long and Undefined Journey
The Great Transformation: Recession, Recovery and EU Conditionality
PART II: INSTITUTIONAL CHANGE AND VARIETY OF CAPITALISM IN TRANSITION ECONOMIES
Institutional Change: Old and New Institutionalism
A Model of Institutional Change in Transition Economies
Variety of Capitalism and Socio-Economic Models in Transition Economies
PART III: CAPABILITY APPROACH, SOCIAL CAPITAL AND HUMAN DEVELOPMENT IN TRANSITION ECONOMIES
Explaining Economic Development: Old and New Theories
Institutions, Human Development, Economic Growth
Origins of Development: Social Capital, Middle Class and Democracy
Conclusion

Authors

Tridico, Pasquale

Pasquale Tridico is Assistant Professor in Economics at the Department of Economics of the University of Roma Tre in Rome (Italy). He teaches: Labour Economics (undergrad.) and Economic Development (master) at Roma Tre, and European Union Economics (at La Sapienza University of Rome )....